Life insurance firms adjust term premiums by 5-10% ahead of FY25 end

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Life insurance firms adjust term premiums by 5-10% ahead of FY25 end - Business Standard

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HDFC Life Insurance – the second largest life insurer in the country – has increased its term life insurance premiums by about 5 per cent for sums insured of ~50 lakhs and above, according to distributors.

A mixed trend is emerging in the life insurance sector ahead of the end of the financial year 2024-2025 (FY25), with some major players reducing premiums on their term products to drive sales, while others are increasing them to protect margins and remain competitive in the market, industry insiders have said.